Eni, Rosneft strengthen cooperation through logistics deal

The company logo at a Rosneft petrol station in St.Petersburg October 23, 2012.

Reuters/Alexander Demianchuk

MILAN Italy's gas and oil major Eni (ENI.MI) and Rosneft signed a strategic agreement to develop trading and logistics opportunities, Eni said on Saturday.

"The aim of the agreement is to develop synergies between the companies' respective logistic infrastructure networks, extracting additional value from their own equity crude portfolios and refined products production," Eni said in a statement.

Rosneft is Russia's largest oil producer. Eni is one of the largest buyers of Urals crude in the world through its trading and shipping arm and the largest for the Italian refinery system.